Do you have money in the bank? Actually, you do not
1 min read
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It’s really reassuring to deposit money in a bank. It goes into a vault. It’s safe. We pay, sometimes a lot, for this security. More than 1 in 4 Americans with a checking account are paying monthly fees, up to $24 a month—around $288 a year—for this service. The thing is… your money isn’t really in the bank. When you make a deposit, only a fraction is kept in reserve. What about the rest? Well… It’s lent out to earn interest and make a profit. But sometimes, when you and other people want to withdraw your money, it’s no longer there. This is called a bank run. Depending on the country, you’ll only be able to get back a certain amount of your money. In the USA, it’s $250,000 guaranteed. In France, it’s 100,000 euros. It’s a shame, isn’t it?
But of course, Bitcoin is a scam. To read more about your money and Bitcoin, go to Coinshares.com
